- Joined
- Feb 19, 2011
- Messages
- 48
Rep Bank
$160
$160
User Power: 19%
How to Access Retirement Funds Early
This author advocates ways to use 401k to compound pre-tax money and employer match contributions, letting it compound tax free over many years.
He even did the math and showed that with the early withdrawal 10% penalty, it still made financial sense because of the tax-free compounding.
Thoughts?
Debating which is the better path
1. Contribute only up to employer match amount, and use the funds
2. Contribute up to the max IRS limit of $18,000, let funds compound, and withdraw it for early retirement using the method described in the article.
This author advocates ways to use 401k to compound pre-tax money and employer match contributions, letting it compound tax free over many years.
He even did the math and showed that with the early withdrawal 10% penalty, it still made financial sense because of the tax-free compounding.
Thoughts?
Debating which is the better path
1. Contribute only up to employer match amount, and use the funds
2. Contribute up to the max IRS limit of $18,000, let funds compound, and withdraw it for early retirement using the method described in the article.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
